Bearish momentum returned to Wall Street today, as several disappointing quarterly earnings reports coupled with renewed Spain fears sent both equity and commodity markets into a tailspin. Blue-chip industrial conglomerate 3M (MMM) reported third-quarter revenue that fell short of expectations, while chem-giant DuPont (DD) announced that it had significantly missed its profit marks and plans to make 1,500 layoffs in an aggressive cost-cutting move. While there have been some companies that have bucked the negative trend in quarterly earnings this season, those who believe a potential slowdown is in store for us in the future expect anemic earnings reports to be a commonality for the next few quarters [see Free Report: How To Pick The Right ETF Every Time]. Global Market Overview: Earnings Drag On Stocks And Commodities The Dow Jones Industrial Average (DIA) logged its worst single-day drop since June today, after sour earnings forced the index to shed 1.82%. Tech-heavy Nasdaq (QQQ) and the S&P 500 [...] Click here to read the original article on ETFdb.com. Related Posts: Daily ETF Roundup: VXX Plunges On Market Rally, XLB Jumps On Solid Data 3 ETFs To Watch This Week: LBND, EWUS, VXX Daily ETF Roundup: Markets Crushed On Black Monday Anniversary Daily ETF Roundup: Stocks Slide Into Red Daily ETF Roundup: Jobs Optimism Bolsters Stocks
Bearish momentum returned to Wall Street today, as several disappointing quarterly earnings reports coupled with renewed Spain fears sent both equity and commodity markets into a tailspin. Blue-chip industrial conglomerate 3M (MMM) reported third-quarter revenue that fell short of expectations, while chem-giant DuPont (DD) announced that it had significantly missed its profit marks and plans to make 1,500 layoffs in an aggressive cost-cutting move. While there have been some companies that have bucked the negative trend in quarterly earnings this season, those who believe a potential slowdown is in store for us in the future expect anemic earnings reports to be a commonality for the next few quarters [see Free Report: How To Pick The Right ETF Every Time]. Global Market Overview: Earnings Drag On Stocks And Commodities The Dow Jones Industrial Average (DIA) logged its worst single-day drop since June today, after sour earnings forced the index to shed 1.82%. Tech-heavy Nasdaq (QQQ) and the S&P 500 [...]
Click here to read the original article on ETFdb.com.
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